The summer pension increase in 2024 is imminent and it will be larger than originally expected. Before the official announcement, the traffic light coalition had forecast a pension increase of 3.5 percent.
From July 1, 2024, pensioners will receive 4.57 percent more pension. For the first time, the pension adjustment will be carried out uniformly across the country, after the pension value in the East had already reached the West value last year. This is possible thanks to a robust labor market and positive wage agreements, which are taken into account in the decision to adjust pensions. Because pensions are “not a luxury, but have been the basis of our social economy for decades,” said the German Labor and Social Affairs Minister Hubertus Heil (SPD) The minister emphasized that this would ensure “that the young generation will also benefit from the future growth in the future” Heil spoke of the first nationwide pension increase as a “estone” 34 years after German unification.